{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\myogo\Princeton Dropbox\Motohiro Yogo\Koijen Yogo - International\JPE\Replication\Code\5 Decomposition\Decomposition0_4.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}31 Oct 2025, 13:20:17
{txt}
{com}. /* Define local and global variables */
> 
> do global;
{txt}
{com}. /* global.do (STATA)
>         Define global variables in "Decomposition".
>         by Ralph Koijen & Motohiro Yogo */
. 
. #delimit ;
{txt}delimiter now ;
{com}. clear all;
{res}{txt}
{com}. do "../3 Estimation/global";
{txt}
{com}. /* global.do (STATA)
>         Define global variables in "Estimation".
>         by Ralph Koijen & Motohiro Yogo */
. 
. #delimit ;
{txt}delimiter now ;
{com}. clear all;
{res}{txt}
{com}. global macro = "LgdpP LgdpPpc Gcpi vol drate";
{txt}
{com}. global bilateral = "dist";
{txt}
{com}. global dummies = "Iown I_CR I_OC Iyear_*";
{txt}
{com}. global dummiesA = "Itype_*";
{txt}
{com}. global iv = "IVexdemand";
{txt}
{com}. global ivA = "LSdelta*";
{txt}
{com}. 
{txt}end of do-file

{com}. global step_W = 1;
{txt}
{com}. global step_fx = .5;
{txt}
{com}. global step_mb = .5;
{txt}
{com}. global Nstep = 1e4;
{txt}
{com}. global Mgap = 1e-9;
{txt}
{com}. 
{txt}end of do-file

{com}. /* Call the ado file */
> 
> forval y = 2012/2014 {c -(};
{txt}  2{com}.         Decomposition 0 `y';
{txt}  3{com}. {c )-};
2012
0     1     9.592e-14     8.882e-14     1.776e-15
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
1     2200     4.416e-10     9.950e-10     3.893e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.02}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.03}   {space 9}{result:0.11}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.03}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2     2412     4.472e-10     9.951e-10     3.843e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.04}   {space 9}{result:0.03}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.01}   {space 15}{result:0.02}   {space 8}{result:-0.01}   {space 9}{result:0.08}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.03}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
3     2254     4.457e-10     9.968e-10     3.807e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.05}   {space 9}{result:0.02}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.01}   {space 15}{result:0.02}   {space 8}{result:-0.01}   {space 9}{result:0.07}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.02}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
4     2385     4.370e-10     9.999e-10     3.906e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.02}   {space 8}{result:-0.07}   {space 9}{result:0.01}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.01}   {space 9}{result:0.06}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
5     2373     4.338e-10     9.942e-10     3.824e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.06}   {space 9}{result:0.01}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.06}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
6     4780     6.387e-10     9.365e-10     1.888e-12
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.06}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
7     4090     6.147e-10     9.537e-10     2.391e-12
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.02}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
8     3570     5.391e-10     9.454e-10     5.013e-12
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2013
0     1     1.013e-13     9.770e-14     7.105e-15
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
1     7584     5.984e-10     9.920e-10     3.197e-13
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.01}   {space 15}{result:0.03}   {space 8}{result:-0.01}   {space 9}{result:0.18}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.06}   {space 9}{result:0.03}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.02}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2     3805     5.562e-10     8.791e-10     1.167e-11
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.09}   {space 9}{result:0.19}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.05}   {space 9}{result:0.05}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
3     3913     5.928e-10     9.513e-10     2.540e-13
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.02}   {space 8}{result:-0.09}   {space 9}{result:0.19}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.05}   {space 9}{result:0.05}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
4     2697     5.699e-10     9.384e-10     3.913e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.09}   {space 9}{result:0.18}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.02}   {space 8}{result:-0.07}   {space 9}{result:0.05}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
5     2819     3.849e-10     9.958e-10     3.847e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.10}   {space 9}{result:0.18}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.10}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
6     2594     4.212e-10     9.966e-10     4.229e-08
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{smcl}
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{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.10}   {space 9}{result:0.10}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.11}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
7     2383     4.517e-10     9.996e-10     4.545e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
8     1919     4.499e-10     9.959e-10     4.522e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 8}{result:-0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 8}{result:-0.00}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2014
0     1     4.263e-14     3.997e-14     1.776e-15
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
1     2676     4.540e-10     9.952e-10     4.795e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.05}   {space 9}{result:0.09}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.02}   {space 8}{result:-0.16}   {space 9}{result:0.06}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2     2635     4.549e-10     9.980e-10     4.795e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.06}   {space 9}{result:0.08}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.01}   {space 15}{result:0.01}   {space 8}{result:-0.13}   {space 9}{result:0.05}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.03}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
3     2515     4.536e-10     9.949e-10     4.676e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.07}   {space 9}{result:0.07}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.01}   {space 15}{result:0.02}   {space 8}{result:-0.13}   {space 9}{result:0.06}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.03}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
4     2926     4.453e-10     9.992e-10     4.876e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.06}   {space 9}{result:0.07}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.01}   {space 15}{result:0.02}   {space 8}{result:-0.11}   {space 9}{result:0.07}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.03}   {space 9}{result:0.02}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
5     2819     4.534e-10     9.991e-10     5.036e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.07}   {space 9}{result:0.13}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.08}   {space 9}{result:0.08}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.03}   {space 9}{result:0.02}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
6     3204     5.216e-10     9.693e-10     7.560e-10
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.14}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.08}   {space 9}{result:0.09}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
7     2494     4.217e-10     9.892e-10     4.928e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.05}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
8     2303     4.567e-10     9.790e-10     4.570e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 9}{result:0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 9}{result:0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:38.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}

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